December 2010 SM ROI Webinar Series Mission Possible: Leveraging Social for Competitive Intelligence

Senior Director, Strategy & Insights Wilson Raj #sm2roiseries

Agenda

Overview of Competitive Intelligence Opportunities for Competitive Intelligence Use Cases of Social Media in Competitive Intelligence Examples and Best Practices Defensive Competitive Intelligence Key Learning

About Alterian

Do you have an engaging web site or is it just brochure-ware?

Do you just blast email or do you make it relevant, timely and personalised

Your Brand
Do you listen to the conversations about your brand that customers are having? Do you know who your customers are, their value to you now and in the future

The Big Picture

CONTEXT & OPPORTUNITY

If you know the enemy and know yourself you need not fear the results of a hundred battles.
Sun Tzu, The Art of War

Only the enlightened ruler and wise general can use people of superior knowledge as spies will they surely achieve great merit.

Sun Tzu, The Art of War

The living spy returns and reports. Employ the native spy from the local people. Employ the inner spy from their officials. Employ the turned spy from among the enemy spies. The dead spy spreads false information abroad

Sun Tzu, The Art of War

Are CI Professionals listening well enough?

Reference: Forrester Report, Defining Social Intelligence 2010

Social Competitive Intelligence

What is Competitive Intelligence?

OVERVIEW

Competitive Intelligence just got easier

THEN

NOW
Images: Bladediary.com stencil, webtreats.mysitemyway.com

What is Competitive Social Intelligence?

Practice of analyzing social media data to drive actionable competitive marketing and business strategy Informs a variety of marketing and business functions

Competitor Strategy

Informs

Drives

Social media data

Marketing

Creates

Digital social presence (aka conversations)

Inspires

Adapted from: Forrester Research

Opportunities for Competitive Intelligence

Reac,ve

Crisis Management Reputa4on Monitoring Customer Service Corporate Marke4ng Sales Lead Gen Interac4ve media buying Customer Segmenta4on Inuencer marke4ng Compe44ve Insight Product Development/Innova4on Public Rela4ons

Proac,ve

Brand Audit Market research Strategic Tac,cal

What can social competitive intelligence do for your business?

USE CASES & EXAMPLES

Competitive Intelligence Applied

Use Case
Campaign measurement Campaign tracking Brand marketing Reputation management Lead generation Influencer marketing Consumer segmentation Customer service Product innovation Market research

Benefit
Test campaign effectiveness with competitors Measure social/viral spread of competitive campaign Understand how customers talk about competitive products Measure customer sentiment of competitive brands Monitor for competitive sales opportunities, channels Target for WOM, reputation, editorial advantages Understand motivations and drivers for purchase/affinity Seek out issues and supporting through interactive channels Improve current products or develop new offerings based on consumer opinions Strategically analyze new segments, offerings, business models, etc.

Example: Fall 2010 TV Shows

Source: Competition as an Opportunity The ROI of Competitive Insight Across a Product Lifecycle by Connie Bensen

Example: Fall 2010 TV Shows

Source: Competition as an Opportunity The ROI of Competitive Insight Across a Product Lifecycle by Connie Bensen

Example: Launch Buzz of Product X vs. Product Y

Total volume: 302,433

Total volume: 165,599

PRE-LAUNCH
Average per day: 6,277

POST-LAUNCH
Average per day: 5,474

PRE-LAUNCH
Average per day: 3,230

POST-LAUNCH
Average per day: 4,151

Example: Competitive Brand Perceptions during Brand Xs Launch

Daily volume
Brand X

Brand Y
Brand Y

Brand X
PRE-LAUNCH POST-LAUNCH

Total mentions: Brand X: 2210 results vs. Brand Y: 737 results

Example: Screen Feature of Product X vs. Product Y

Product X Date Range: 9/01 10/15

Product Y Date Range: 07/01 08/15

Example: Keyboard Feature of Product X vs. Product Y

Product X Date Range: 09/01 10/15

Product Y Date Range: 07/01 08/15

Example: Telco Product Comparisons

Brand X Volume Share of voice 31008

Brand Y 20306

Brand Z 196314

Top mentioned topics

PR and Announcement> Games and Applications> Phone Features and Design> Phone Carrier > Service Plans

Games/Applications and Android > Phone Features and Design> Phone Carrier> Pricing> PR and Announcement

Technical Inquiry > Games and Applications> Phone Features and Design> Availability PR and Announcement
*Data range: 9/5/2010 to 9/20/2010

The flip side of competitive intelligence

DEFENSIVE COMPETITIVE INTELLIGENCE

Competitive Intelligence & Social Media Security

Marketers
Social Media training Social media policies Social media security Competitive Intelligence

IT & Compliance
User education & adoption Compliance & Legal issues Risk of data loss Exposed social media data

Reference: http://barryhurd.com/2010/11/competitive-intelligence-and-social-media-security/

Key Takeaways

OPTIMIZE YOUR COMPETITIVE EDGE

Key Learning # 1

Identify Determine your competitive intelligence goal Tune

Aggregate

Track

Key Learning # 2

What competitors are offering/saying to customers

Competitors strengths & weaknesses

Focus your gap analysis

Industry trends

Influencer trends

Key Learning # 3

Web Analytics
Integrate social with other data for deeper insights

Search

Offline data

Existing primary & secondary research

Key Learning # 4

Combine processes, tools, and education to secure business assets

Dont be afraid

Realize social intelligence gathering goes both ways Evolve with the business Be flexible

THANK YOU